Gold Holds Steady Ahead of CPI Data Release
Gold prices held steady near a two-week high in Asian trade on Wednesday as geopolitical instability in Asia and the Middle East supported safe-haven demand.
The yellow metal also found some bids as markets turned risk-averse ahead of key U.S. inflation data due later Wednesday, which is likely to factor into the interest rate outlook.
As of this writing, gold is trading at: $2,698
RECOMMENDATION
- Buy if price moves to at least $2,683
- Sell if price moves to at least around $2,713
Resistance Level 2: $2,728
Resistance Level 1: $2,713
Support Level 1: $2,683
Support Level 2: $2,668
DISCLAIME
Note: This article is only an analysis and not a definitive reference. Observe developments in fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker.id